2024 Cola Increase For Social Security 2024. Social security benefits will increase by 3.2 percent beginning with the december 2023. The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2% higher in 2024.

Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. The 21% cut across the board in 2033 will deepen to a 31% cut by 2098, it said.